IShares Transportation Correlations
| IYT Etf | USD 69.49 0.10 0.14% |
The current 90-days correlation between iShares Transportation and iShares Telecommunications ETF is 0.19 (i.e., Average diversification). The correlation of IShares Transportation is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.
IShares Transportation Correlation With Market
Modest diversification
The correlation between iShares Transportation Average and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Transportation Average and DJI in the same portfolio, assuming nothing else is changed.
IShares |
Moving together with IShares Etf
| 0.9 | XLI | Industrial Select Sector | PairCorr |
| 0.7 | ITA | iShares Aerospace Defense | PairCorr |
| 0.86 | VIS | Vanguard Industrials | PairCorr |
| 0.71 | FXR | First Trust Industri | PairCorr |
| 0.67 | PPA | Invesco Aerospace Defense | PairCorr |
| 0.85 | IYJ | iShares Industrials ETF | PairCorr |
| 0.86 | FIDU | Fidelity MSCI Industrials | PairCorr |
| 0.67 | UPRO | ProShares UltraPro SP500 | PairCorr |
| 0.61 | XTOC | Innovator ETFs Trust | PairCorr |
| 0.69 | BAC | Bank of America | PairCorr |
| 0.68 | HD | Home Depot | PairCorr |
| 0.68 | CVX | Chevron Corp | PairCorr |
Related Correlations Analysis
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IShares Transportation Constituents Risk-Adjusted Indicators
There is a big difference between IShares Etf performing well and IShares Transportation ETF doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze IShares Transportation's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.| Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
|---|---|---|---|---|---|---|---|---|---|---|
| IYZ | 0.66 | 0.03 | 0.02 | 0.08 | 1.19 | 1.39 | 4.82 | |||
| IYM | 0.72 | (0.10) | 0.00 | (0.18) | 0.00 | 1.40 | 4.28 | |||
| IYJ | 0.66 | (0.09) | 0.00 | (0.13) | 0.00 | 1.37 | 3.99 | |||
| IYC | 0.70 | (0.02) | 0.00 | (0.03) | 0.00 | 1.50 | 5.16 | |||
| IYR | 0.81 | (0.08) | 0.00 | (0.13) | 0.00 | 1.82 | 4.35 |